Société d’Investissement à Capital Variable

(SICAV).

Type of collective investment scheme available in western Europe.

Unlike Fonds Commun de Placements (FCP), SICAVs are distinct legal entities, with each investor being a shareholder of the company.

In other words, SICAVs are open-ended investment companies.

See also

• Fonds Commun de Placement
• Investment company
• Mutual fund
• Undertaking for collective investments in transferable securities